$BABA Daily chart bullish setup, we have been calling out $BABA all of last week for a move higher based out of the TTM Squeeze and the bullish flow we saw on our Options flow in $KWEB the Chinese Tech ETF.
$BABA has been the laggard along with other Chinese name all of last year when Tech stocks were making new all time highs. In the blood bath in tech sector last week $BABA , $JD , $BIDU stood well and were showing relative strength (possibly new money flowing into Chinese stocks). $BABA has TTM Squeeze formed here and the momentum is positive here looking for a move higher into the $140 1.618 extension and then opening of the gap $148. $BABA has gap fill job at $161. We are long $BABA calls Feb 18th 2022 strike and staying in it.
$BABA has been the laggard along with other Chinese name all of last year when Tech stocks were making new all time highs. In the blood bath in tech sector last week $BABA , $JD , $BIDU stood well and were showing relative strength (possibly new money flowing into Chinese stocks). $BABA has TTM Squeeze formed here and the momentum is positive here looking for a move higher into the $140 1.618 extension and then opening of the gap $148. $BABA has gap fill job at $161. We are long $BABA calls Feb 18th 2022 strike and staying in it.
